US Treasury prices surged and then fell back, with the 10-year US Treasury yield dropping by about 3 basis points. Traders are betting on an imminent interest rate cut by the Federal Reserve

At the New York closing on Thursday (July 25th), the yield on the 10-year US Treasury benchmark bond fell by 2.94 basis points to 4.2544%. At 20:30 Beijing time, it dropped to a daily low of 4.1862% when the US GDP, durable goods orders, and weekly job survey report were released, remaining in a downward trend throughout the day, showing a V-shaped pattern overall. The yield on the 2-year US Treasury bond rose by 1.03 basis points to 4.4389%, hitting a daily low of 4.3379% at 16:20, then rebounding continuously and reaching a daily high of 4.4472%, displaying a V-shaped reversal for the day. The yield on the 20-year US Treasury bond fell by 4.00 basis points, while the yield on the 30-year US Treasury bond dropped by 3.02 basis points